Central Banking
Ex-Fed's Rivlin says Bernanke gets an 'A'
"In general, I think he's doing a very good job...I think he gets an A on several different grounds," former Federal Reserve vice chairwoman Alice Rivlin told Kyodo News in an interview published Monday 29 January, ahead of the anniversary of Bernanke's…
Greenspan promotes stronger Chinese yuan
China may improve the stability of its economy by allowing the yuan to rise faster, Alan Greenspan, former chairman of the U.S. Federal Reserve, said Monday 29 January via video link at a conference in Shanghai organized by UBS AG.
HKMA says close monitoring needed on hedge funds
Hedge funds' activity needs to be monitored closely because their 'risk-taking . . . is often excessive,' the Hong Kong Monetary Authority (HKMA) said in a paper.
Fed has yet to set target on inflation
According to this article from The New York Times, published Tuesday 30 January, as Ben Bernanke celebrates his first anniversary as Fed chairman, the US central bank is still far away from acting on his major proposal.
ECB's Gonzalez-Paramo on liquidity management
In the speech 'The challenges to liquidity management in the euro area: the perspective of the ECB' given on 25 January Jose Manuel Gonzalez-Paramo of the ECB said we are still investigating the underlying causes for the upward pressure on short-term…
Norway's Bergo on interest rate projections
In the speech 'Interest rate projections in theory and practice' given on 26 January Jarle Bergo of the Norges Bank said the benefit of commitment hinges on the credibility of the central bank's actions and communication.
Tetangco on the BSP and the banking community
In the speech 'The BSP and the banking community - a partnership for a better year in 2007' given on 16 January Amando Tetangco of the Central Bank of the Philippines said inflation is seen to continue to slow down in 2007, with the government target of…
Cabraal on Sri Lanka & money laundering
In the speech 'Sri Lanka and its battle against money laundering and terrorist financing activities' given on 26 January Ajith Nivard Cabraal of the Central Bank of Sri Lanka said the International Monetary Fund has estimated that the aggregate amounts…
Pakistan's Akhtar on shariah compliance
In the speech 'Shariah compliant corporate governance' given on 27 November Shamshad Akhtar of the State Bank of Pakistan said Pakistan has adopted a three tiered, somewhat unique, Shariah Compliance Mechanism and process to ensure a deeper and extensive…
Europe's uneven growth challenge
According to this article on the Project Syndicate website, growth has become less evenly balanced throughout the eurozone with the resurgence in German growth.
ECB policy still accommodating says Bini Smaghi
ECB board member Lorenzo Bini Smaghi said Saturday 27 January in a speech in Milan that current eurozone interest rates are still "accommodating" and will continue to be so in the coming months.
BoE's Blanchflower downplays 'dove' tag
Bank of England Monetary Policy Committee member, David Blanchflower, has attempted to downplay the market's view of him as an interest rate dove in an interview with the Guardian published Monday 29 January.
Buba's Remsperger sees German recovery into 2008
Bundesbank executive board member Hermann Remsperger said in an interview with the Financial Times published Monday 29 January Germany's economic recovery has a good chance of continuing beyond 2007 and into next year.
PBOC's Wu says yuan to shift gradually
People's Bank of China deputy governor Wu Xiaoling said at the World Economic Forum that the yuan exchange rate will gradually become more flexible.
ECB's Trichet sees risk of inflation spiral
European Central Bank president Jean-Claude Trichet told French television there is a risk of an increase in inflation in the eurozone and noted that ECB rates are well below those of the US Fed.
Buba's Weber says rates may have to rise
Bundesbank President Axel Weber said in an interview published Monday 29 January a further increase in euro zone interest rates may well be needed, if German wages increase steeply.
Bollard on financial services for New Zealand
In the speech 'Delivering sound and innovative financial services for New Zealand' given on 26 January Alan Bollard of the Reserve Bank of New Zealand said a lack of depth and breadth in New Zealand's capital markets is limiting economic growth and…
BI's Abdullah on stability for sustained growth
In the speech 'Capitalizing on stability for sustained growth' given on 12 January Burhanuddin Abdullah of the Bank Indonesia said that in confronting future challenges, we need the involvement and participation of all public elements, including the…
ECB's Stark on policy efforts for 2007
In the speech 'Applause for 2006 should not abate policy efforts for 2007' given on 25 January Jurgen Stark of the ECB warned of inflation risks in the eurozone and reiterated that the central bank will act to preserve price stability.
Canada's Dodge on monetary policy & global economy
In the speech 'Monetary policy and developments in the global and Canadian economies' given on 25 January David Dodge of the Bank of Canada said prospects for the Canadian economy are solid for 2007 after sluggishness in the last half of 2006.
China:Strengthening monetary policy implementation
According to this IMF Working Paper, published January 2007, the People's Bank of China (PBC) has made great strides in modernizing its monetary policy frameworks but their effectiveness will diminish as the sophistication of the economy increases.
BoJ to discontinue its Quarterly Bulletin
The Bank of Japan said Friday 26 January it will stop publishing its Quarterly Bulletin from now on due to increased use of the internet. The last issue was the November 2006 edition, the BoJ said in a statement.
The Bank of Japan's big mistake
According to this article by Stephen Roach, published on Friday 26 January by Money Week, the Bank of Japan has dealt a stunning blow to central bank independence.
China's Yu says coordinate foreign reserve policy
Yu Yongding, a former adviser to the People's Bank of China, said on Friday 26 January that officials should coordinate foreign reserve policy with other Asian central banks to prevent volatility in currency markets.